Oil price swoon may be political boon for energy industry

ByIE Read Feed |December 2, 2014

Politico reports on falling oil prices and the next Congress. Energy reporter Elana Schor lays out how the oil industry will work the GOP-led Congress next year to reduce or weaken regulations on the industry. Falling oil prices give the industry new ammunition in these regulatory battles. Schor predicts that oil producers will paint an “OPEC versus U.S. oil” scenario in which excessive government regulation could stall America’s energy momentum.

At the top of the industry’s priority list are lifting the ban on crude oil exports, and speeding up permits for liquified natural gas export terminals. Regulatory issues that the GOP has vowed to fight include efforts to limit methane emissions and a new EPA proposal to lower ozone standards. Stay tuned: Inside Energy will report this month on the impact of the new GOP-led Congress on energy issues.